Probability Management for Water Finance and Resource

Jun 9, 2019
Project Update

Task 1, Present Principles of Probability Management (PM) in a Primer The research team drafted an outline and the conceptual core of the Primer on Probability Management. They reviewed this with team members to converge on the structure.

Task 2, Case Studies: Applying Probability Management to Water Initial meetings were held with all of the participating water utilities to brief utility staff on the proposed research approach, present findings from other WRF projects on demand uncertainty, demonstrate PM tools, and elicit suggestions for potential case studies. The objective here was to flesh out one or two case studies that could be conceptually defined with the hope of selecting one to be the focus of the research effort.

The team observed different levels of comfort in addressing uncertainty through the principals of probability management. Resource planners and demand analysts have displayed the most comfort and desire to address uncertainty, perhaps due to recent experience with water demand volatility.

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